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Opinion: Avoiding IMF won’t help us avoid austerity
Naqiya Shiraz and Rehana Thowfeek Sri Lanka’s debt problems are a topic of national conversation. Foreign reserves, already low at USD 4bn in May 2021 fell to USD 2.8bn after the most recent bond repayment of USD 1bn in July 2021 . The Government claims that the timely repayment of the bond is proof that doomsayers […]
”, UN scientists say
Heating from humans has caused irreparable damage to the Earth that may get worse in coming decades, a UN climate report has concluded. Humanity’s damaging impact on the climate is a “statement of fact”, UN scientists have found in unprecedented research combining more than 14,000 studies. The past five years have been the hottest on […]
SL could suffer LKR8.2 bn shortfall every month it’s on UK’s ‘red list’: World Travel & Tourism Council
Research conducted by the World Travel & Tourism Council (WTTC) has revealed Sri Lanka’s economy could face losses of more than LKR260 million each day it remains on the UK’s disruptive and damaging ‘red list’ for travel. According to pre-pandemic figures, the UK was one of the top inbound markets for Sri Lanka, representing 10 […]
Joint Apparel Associations Forum formulates plan to sustain industry’s long-term growth
The Joint Apparel Associations Forum (JAAF) has formulated a 5-point framework to coordinate the industry’s response to challenges stemming from COVID-19 and to drive stakeholder collaboration towards ensuring sustained long-term growth of Sri Lanka’s entire apparel sector. The five points are: ensure a safe working environment for employees enhance backward integration high-level collaboration with the […]
VIDEO: Why Bill Gates Is Buying Up U.S. Farmland
Bill Gates made headlines for becoming the largest private farmland owner in the U.S. But he’s not the only one. Some of the wealthiest landowners including Jeff Bezos, John Malone and Thomas Peterffy are buying up forests, ranches and farmlands across the United States.Why? Watch the video to find out.
Central Bank sets maximum interest rate on foreign currency deposit accounts of banks
Considering the anomalies in the interest rates offered and paid by licensed commercial banks on the rupee and foreign currency deposits, the Monetary Board of the Central Bank has issued an order on maximum interest rates to be paid in respect of foreign currency deposit products of licensed commercial banks and the National Savings Bank. […]
Emirates to resume Colombo – Male flights from 1st September
Emirates has announced the resumption of its Colombo – Male service starting 1 September. The daily service between the two cities will be an extension of its Dubai-Male flight EK652 to Colombo, with the return flight EK653 operating from Colombo to Dubai via Male. Emirates flight EK652 will depart Dubai at 09:45hrs daily, arrive in […]
“GLX Digital Evolver” powers transformation of tourism through digital evolution
Good Life X (GLX) in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Sri Lanka – via ‘GLX Digital Evolver’ pursue the growth and evolution of Sri Lanka Tourism in partnership with leading industry experts. The recently launched programme which is aimed at empowering businesses in Sri Lanka’s Travel & Tourism Sector to evolve digitally, […]
‘s headline inflation increased to 6.8-pct in July 2021
Headline inflation, as measured by the National Consumer Price Index has increased to 6.8 percent in July 2021 from 6.1 percent in June 2021 driven by the monthly increases of prices of items in both Food and Non-food categories. Accordingly, Food inflation (Y-o-Y) increased to 11.0 percent in July 2021 from 9.8 percent in June […]
ASPI surpasses fair value; reduce equity exposure to 65-pct: First Capital Research
With the ASPI surging past the 8,000 mark for the 2nd time in 2021 and taking into account the economic uncertainties that exist, First Capital Research recommends reducing equity exposure to 65% from the current 90% raising cash allocation to 35% from 10%. First Capital Research believe that the fair value for the ASPI stands […]
First Capital Implements Digital Onboarding for Unit Trusts & Govt Securities for first time in SL
Breaking barriers in the non-bank financial services space, First Capital introduces ’digital onboarding’ to facilitate non-face-to-face Account Opening for Unit Trusts and Government Securities clients for the first time in Sri Lanka. Together with the Stock Brokering arm that facilitate digital onboarding through the CSE Mobile App, the Company offers a fully integrated digital account […]
Full speech: President Gotabaya Rajapaksa’s special address to nation
The Most Venerable Maha Sangha, Religious Leaders of other faiths, Friends, The accepted opinion of the World Health Organization (WHO), the majority of medical experts and according to the global standardized methodology is that the vaccination is the only solution for the COVID-19 pandemic. That is why, I made a special commitment to bring in […]